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Health Insurance Fundamentals

Test your knowledge of health insurance concepts, including PPO plans, Medicare, long-term care insurance, claim calculations, managed care, and employer-sponsored health plans

10 Questions Published
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Questions

Question 1 Multiple Choice (Single Answer)

A health savings account, is better suited for

  1. Young employees
  2. Employees with multiple chronic conditions
  3. Large families
  4. People over 65 years of age
Question 2 Multiple Choice (Single Answer)

Which of the following plans are less flexible?

  1. indemnity plan
  2. Managed heath care plan
  3. LTC plan
  4. Short term Disability income coverage
Question 3 Multiple Choice (Single Answer)

Most employee-spnsored group health insurance plans are

  1. Contributory
  2. Non contributory
  3. Fully Insured
  4. None of the Above
Question 4 Multiple Choice (Single Answer)

Can an employer change the health insurance carrier and the level of benefits during the year?

  1. No, employers can change only the carrier but not the level of benefits
  2. No, employers can change only the level of benefits but not the carrier
  3. No, employers can change the carrier and the level of benefits only at the end of the year
  4. Yes
Question 5 Multiple Choice (Single Answer)

Claim costs for each benefit is calculated by Insurance company as

  1. Claim costs = hospital expenses + surgical expenses+physicians fees + major medical expenses
  2. Claim costs = frequency of expected claim * average amount of each claim
  3. Claim Costs = (hospital expenses + Board Expenses ) * frequency of claims
  4. None of the Above
Question 6 Multiple Choice (Single Answer)

Manual Rating is rating method to derive the amount of its projected claim

  1. From the actual morbidity experience of all those groups it expected to have normal morbidity
  2. From morbidity experience of that group
  3. a& b
  4. None of the above
Question 7 Multiple Choice (Single Answer)

COLA is

  1. Insurance Act dealing with Adjustment benefits
  2. provides for periodic increases in disability income amount corresponding to increase in Cost of Living
  3. a consumer price index used for calculating the Inflation cost for insurance claims
  4. Its a mental health parity act
Question 8 Multiple Choice (Single Answer)

Although the United States does not have a national health care program for all of its residents, there are several government-sponsored health insurance program. Which of the following provides health care insurance for U.S. citizens who are age 65 or older?

  1. Medicaid
  2. Medicare
  3. Old-age insurance
  4. Managed
Question 9 Multiple Choice (Single Answer)

What is long-term care insurance?

  1. A policy couples should purchase when they have children.
  2. Insurance policies adult children should take out on their older parents to cover dependent care expenses.
  3. Policies individuals over 65 are required to purchase
  4. An individual insurance policy to help when you are unable to care for yourself due to prolonged illness or disability
Question 10 Multiple Choice (Single Answer)

What is a PPO plan?

  1. A plan to assist the Professional Parents Organization.
  2. A Preferred Provider Organization allowing preferred providers (doctors) to have direct contact with their policyholders.
  3. A Preferred Provider Organization where providers contract with an insurance company or health plan to offer services
  4. A plan for employees of organizations named with three letters, such as NBC and SBC
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